The Democrats have finally passed a law setting limits on interest rates and terms for small loans to poor credit risks. They think this will result in low income people getting less costly loans for emergencies, What will actually happen is that they will be unable to get emergency loans at all. If they really wanted to help, they would start a lending institution using their own money to make these loans on better terms and drive the ‘predatory lenders’ out of business through competition, until, of course, they ran out of money.
Those predatory lenders charged those rates for a reason.
But Democrats still think they can control the marketplace through force, and will have to learn that lesson over again many, many times before it sinks in.